Bill Wexler's Dog Pound Message Board

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Non-Tech : Bill Wexler's Dog Pound

REFR 1.847

-0.2%

3:50 PM EST

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To: Bill Wexler who wrote (2167)	7/14/1999 4:33:00 PM
From: BelowTheCrowd	of 10293

Bill, Interesting that so many fraud companies seem to have "development partners," "joint ventures," and "subsidiaries" in Korea which will be responsible for the actual manufacturing of the items. Of course, these are always large companies whose balance sheets and indecipherable even if you do read Korean, and naturally done in accordance with Korean accounting rules (Rule #1: Pay the right people. Rule #2: Provide key jobs to relatives of govenment officials. Rule #3: Purchase all key items from other companies which are controlled by the same key groups of individuals.) Hanil-Valence is probably one of the more ridiculous ones. What has a cement-maker got to do with batteries? At least REFR chose a glass maker to do a deal with. Interesting that they couldn't find one in any other market. There are other similar "deals" I've seen. All equally suspicious. Probably should scan 10Ks for mention of "Korean Joint Venture"... mg

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